Analysis how political processes impact a Canadian industry Term Paper

Analysis how political processes impact a Canadian industry - Term Paper Example Another major contribution of the increased competitive market structure in Canadian shipping industry is the implementation of the 1985 task force recommendations on deep-sea shipping. This government amendment made the Canada shipping industry most competitive compared with other countries as the ship owners were not compelled to pay for taxes also increasing employment opportunities (Johnson 2001). This industry has few customers mainly shippers who are mainly involved with the transportation of bulky goods, the major shippers involved in this industry are importers and exporters who engage on the movement of large quantities of cargo for over long distances. The customers are provided with a highly efficient international network of shipping as the agencies are mostly global carries (Johnson 2001). The products and services of the Canadian shipping industry are mainly the movement of goods and services across Canada and other global countries. The main activity is being shipping service providers where they engage in the provision of shipping and shipping related services, this include shipping services and multimodal services. Shipping services include shipping clearance, extensive vessel containers and container fleets, provision of cargo solutions, crew change services, loading and offloading cargo, provision of warehouse facilities, chartering and brokerage. The agencies in this industry extend their services in providing railway, road and river freight as well as providing services such as container fleet management, special transport services, air freight and supply chain management and turnkey supply-chain solutions. Agencies and firms in this industry engage in tough competition through specialization on the specific products and services that they provide where specific firms and agencies engage on specialized shipping activities which results into having competitive advantage over other players in the industry most of the firms are engaging in spe cialized transport services such as reefer fleet which is the latest trend in the industry involving refrigerated containers which are transported to all the countries worldwide. The industry is considered to be dynamic as the firms compete to offer their various customers innovative and quality services that suit the needs and requirements to achieve full customer satisfaction (Johnson 2001). The growth of shipping industry in Canada is as a result of the consistent prospects for growing knowledge-based industries in Canada. Shipping industry in Canada offers a variety of goods and shipping services which are wholly a spectrum. The most significant aspect of this industry is the existing markets and the global potential markets which are constantly emerging as well as the future markets; this knowledge base has enhanced the potential growth of the opportunities as well as the expected challenges in the shipping industry. With the available types of knowledge bases including machine -readable knowledge bases which has been largely adopted operations that machines are largely involved and the expert information is passed across the industry and the firms focus on putting into practice the acquired knowledge. Secondly widely adopted knowledge base in the Canadian industry is the knowledge base analysis design where this approach allows the firms, agencies and individuals in this industry to carry out analysis and design in which a knowledge base is

Audit Committee Essay Example | Topics and Well Written Essays - 1750 words

Audit Committee - Essay Example It assists a business to achieve the aim through fetching methodical, closely controlled advance towards appraisal as well as develop efficiency of risk management, control, and governance processes. The Code of Ethics is essential as well as suitable in favour of the career of internal auditing, originated since it is resting on faith placed in its aim promise regarding governance, risk management, and control (Beattie & Fearnley, n.d.). The Codes of Ethics used by internal auditors is likely in the direction of affect as well as support the subsequent standards: These are the main objectives of ethics that are to be followed in every case for being in the area of code of ethics. Integrity Objectivity Confidentiality Competency Independence and External Part of Audit Committee The Audit Committee is answerable, used for making certain it analysis’s at least once a year the credentials, presentation and sovereignty of auditors. Also, the Audit Committee shall analysis a ceremo nial printed declaration clearing up every relation among The External Auditors as well as Parent Company as well as its subsidiary. The Audit Committee will sustain a dynamic discussion with the autonomous auditors, casing a few revealed relations or checks so as to might force their neutrality and sovereignty. The Audit Committee will evaluate every future take on by company or its subsidiary of administration point or senior persons previously working through the sovereign auditors who offered checks towards the corporation. The Audit Committee will get, or counsel The Board of Directors so as to it takes, suitable measures towards managing the sovereignty of company’s External Auditors. To have an efficient association among the Audit Committee and External Audit, here exists a system contained to assist a release as well as guileless trade of information among Committee Members as well as External Audit all the time. Audit Committee members must exist inside an arrangeme nt, talented to frankly talk about subjects of attention in a responsive way with External Auditors within several areas enclosed through the Committee’s function (Beattie & Fearnley, n.d.) External audit committee coverage The Audit Committee is supposed to be briefed on the projected External Audit reporting as well as completely believe on subsequent given terms by the company: the financial report regions of audit focus, appraisal of entity risks, as well as related fees; projected performance audit coverage; Some possible duplication among internal audit coverage. It can be predictable so as to the Audit Committee will evaluate every considerable association from External Audit about Intended Audit, Audit in development, accomplished audit, as well as widen a ranking incitement for the External Auditor to live there next to every committee summit meant for every schedule matter (by means of the omission of members-only gatherings so as to the Committee might grasp occasi onally). Present there on every summit as a witness permits the external auditor to get a improved perceptive of an organizations functions as well as dangers along with, between other belongings, allows external auditor to offer a standing information lying on Audit doings furthermore to present contribution in favor of the committee’s consideration (BPP, 2011). Question 2: Audit and